Mclean and pontiff (2012) identify more than characteristics associated with abnormal returns.

Mclean and pontiff (2012) identify more than 80 characteristics associated with abnormal returns. The predictors in a cross-sectional manner used ninety-seven anomalies. Portfolios of predictor display post-publication growths in connections with other published portfolios of predictors. This shows that the stockholders acquire knowledge about mispricing from academic journals.

answer: stupidity. they should wait till they can get reward money.

answer; observing;